Western New England Bancorp (WNEB) Stock Rating Lowered by BidaskClub

Western New England Bancorp (NASDAQ:WNEB) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Zacks Investment Research raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.88.

NASDAQ:WNEB opened at $9.71 on Wednesday. Western New England Bancorp has a 12 month low of $9.55 and a 12 month high of $11.25. The company has a market capitalization of $282.31 million, a PE ratio of 19.42 and a beta of 0.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.05.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.14 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.14. Western New England Bancorp had a net margin of 14.03% and a return on equity of 6.60%. The company had revenue of $16.90 million for the quarter, compared to analyst estimates of $17.49 million. Analysts predict that Western New England Bancorp will post 0.56 earnings per share for the current fiscal year.

In related news, Director Philip R. Smith acquired 4,000 shares of the stock in a transaction dated Monday, October 29th. The shares were acquired at an average price of $10.29 per share, for a total transaction of $41,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.35% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new stake in Western New England Bancorp during the third quarter worth $114,000. JPMorgan Chase & Co. boosted its stake in Western New England Bancorp by 119.2% during the third quarter. JPMorgan Chase & Co. now owns 11,990 shares of the financial services provider’s stock worth $129,000 after buying an additional 6,520 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in Western New England Bancorp by 55.9% during the third quarter. MetLife Investment Advisors LLC now owns 20,891 shares of the financial services provider’s stock worth $226,000 after buying an additional 7,494 shares in the last quarter. California Public Employees Retirement System boosted its stake in Western New England Bancorp by 7.5% during the second quarter. California Public Employees Retirement System now owns 78,716 shares of the financial services provider’s stock worth $866,000 after buying an additional 5,510 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in Western New England Bancorp by 1.7% during the third quarter. Royce & Associates LP now owns 500,154 shares of the financial services provider’s stock worth $5,402,000 after buying an additional 8,400 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides community banking products and services to individuals and businesses. The company accepts various deposit accounts, including time deposits, money market accounts, savings accounts, demand accounts, and interest bearing checking accounts.

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